2007-02-18 02:23:10 · 9 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Absolutelly. If you are capable of supporting the debt they may even provide the financing required. The House is bad debt to the bank and a costly means of retrieveing thier lost capital. Ask and offer a reasonable (but below) market offer and see what happens.
Good luck.
2007-02-18 04:27:36 · answer #1 · answered by Kevin 2 · 0⤊ 0⤋
Interesting question. I think (repeat THINK) that you lease will stay valid no matter who buys the property. I think that you have a great chance to work with the bank. A few years ago a guy I knew was past due on paying on a vacant home site an going under. I called the bank with his O.K. and they were happy to let me assume the balance of the mortgage because I had a great credit score. Then I gave gave him some of his equity back. Turned out great.
2007-02-18 10:38:10 · answer #2 · answered by gvh 3 · 0⤊ 0⤋
If the foreclosure has not happened yet you could buy it directly from the landlord for what he owes and save his credit. Or you can buy it from the bank after the foreclosure probably for less. Either way you should apply for a mortgage pre-approval ASAP.
2007-02-18 20:01:01 · answer #3 · answered by ebosgramma 5 · 0⤊ 0⤋
The bank doesn't want the house. No matter what happens they are going to lose money. If you make an offer and have the credit/capital to support the offer, they could very well jump on it. You lose nothing by trying.
2007-02-18 10:31:45 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Banks do make money on foreclosures. And yes, you can buy the house at auction, or maybe even from your landlord.
2007-02-18 10:34:57 · answer #5 · answered by joe1max 4 · 0⤊ 0⤋
No, I checked your credit and the bank wouldn't loan you money to buy a coffee maker. LOL
2007-02-18 10:39:03 · answer #6 · answered by Interprenuer 1 · 1⤊ 0⤋
they will will sell it to you, first find out out what your landlord owns on the house. you may end up paying what every he is behind to catch up, and then the tell them you will finance what is left on the loan he had.
2007-02-18 10:36:30 · answer #7 · answered by qsue19 2 · 1⤊ 0⤋
It's possible. You should contact the bank.
2007-02-18 11:11:41 · answer #8 · answered by Alterfemego 7 · 0⤊ 0⤋
true that bubba
2007-02-18 10:57:06 · answer #9 · answered by CALIFORNIA GOLD 3 · 0⤊ 0⤋